Germany’s new government has launched a major program aimed at boosting investment and helping Europe’s largest economy recover after two years of decline.
Chancellor Friedrich Merz and Finance Minister Lars Klingbeil announced the “growth booster” package on Wednesday. It includes tax breaks for businesses and a planned cut to corporate tax rates — from 15% to 10% — gradually starting in 2028.
The centerpiece is a generous tax write-off for companies investing in machinery and equipment over the next three years. Additional incentives will support the purchase of electric vehicles and private-sector research through mid-2027.
“We’re making Germany more competitive,” Klingbeil said, as the country tries to spark growth in an economy expected to stagnate this year.
The measures still need approval from parliament.
The new package is separate from a €500 billion fund already passed by lawmakers to modernize infrastructure across Germany over the next 12 years. Formal legislation for that fund is expected later this month.
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Around 20 people have died after a major fire tore through a seven-storey office building in Indonesia capital Jakarta on Tuesday.
Authorities in Japan lifted all tsunami warnings on Tuesday following a strong 7.5-magnitude earthquake that struck off the northeastern coast late on Monday, injuring at least 30 people and forcing around 90,000 residents to evacuate their homes.
Pressure is mounting between Venezuela and the United States as both nations emphasise military preparedness and strategic positioning.
Tehran has protested to Washington because of the travel ban on its football team delegation as well as Iranian fans who would like to travel to the United States for the upcoming World Cup matches in 2026.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
Russia has welcomed U.S. President Donald Trump’s new National Security Strategy, calling it largely consistent with Moscow’s own vision, as Washington pushes forward with efforts to broker an end to the war in Ukraine.
China has carried out a major test of a new “super wireless” rail convoy, a technology that could reshape the future of heavy-haul transport.
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U.S. industrial production rose by 0.1% in September, rebounding after a decline in August, while capacity utilisation remained unchanged, according to Federal Reserve data on Wednesday.
Google’s YouTube has announced a “disappointing update” for millions of Australian users and creators, confirming it will comply with the country’s world-first ban on social media access for under-16s by locking affected users out of their accounts within days.
President of Turkmenistan Serdar Berdimuhamedow has signed the “On Virtual Assets” law, which will officially legalise cryptocurrency mining and exchange activities in the country from 1 January 2026.
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